March 26 (Bloomberg) -- Zimbabwe’s capital, Harare, plans to borrow $100 million from the Development Bank of South Africa to rehabilitate the city’s water infrastructure, Mayor Muchadeyi Masunda said.
“We are keen to have investors in the area of infrastructure, we are in talks with Development Bank of South Africa for funding in the area of especially water infrastructure rehabilitation,” Masunda said at a conference in the city today. “The project will cost around $100 million. It’s not just water infrastructure, but there is also a serious shortfall of electricity.”
African Development Bank and an unidentified French lender would also assist with funding, he said.
DBSA is funding the rehabilitation of the southern African nation’s roads, David Monaye, a senior policy analyst at the bank, said in an interview in Harare.
“Last year we committed $206.6 million in the rehabilitation of roads,” he said.
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